Battery monitoring system Market

• Growing Demand for Battery Monitoring System in Data Centers

Moreover, the demand for data centers across the world is growing significantly, and many countries in the world, such as Saudi Arabia, India, and the US, are focusing on the development of data centers. For instance, in Saudi Arabia, in February 2018, Google (US) collaborated with Saudi Arabian Oil Co. to establish a data center. Moreover, in India, in September 2018, Alibaba Group (China) opened its second Availability Zone in Mumbai, India. In February 2019, Ctrl Datacenters Ltd (India) planned to invest USD 278.6 million for setting up three hyper-scale data centers in India.

Furthermore, in February 2019, Google (US) announced that it would invest more than USD 13 billion in developing data centers and offices across the US.

BMS is a major component in data centers as they are used to enhance the functions of UPS in data centers. For instance, in 2019, Vertiv (US) introduced a lithium-ion battery cabinet for use with larger capacity uninterruptible power supply (UPS) systems. Vertiv allows direct communication between battery monitoring systems within the unit and external UPS. Similarly, Schneider Electric (France) provides a varied range of products to monitor the batteries for data centers. Such developments are driving the growth of the battery monitoring system for data centers globally.

The Global Battery Monitoring System Market Industry is poised for substantial growth, with projections indicating a market value of 7.87 USD Billion in 2024 and an anticipated increase to 49.0 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 18.1% from 2025 to 2035. Such figures underscore the escalating demand for battery monitoring solutions across various applications, including electric vehicles, renewable energy storage, and industrial uses. The market's expansion reflects the increasing importance of battery management in ensuring efficiency and safety.

The Global Battery Monitoring System Market Industry is significantly influenced by the rapid growth of the electric vehicle (EV) sector. With the global electric vehicle market projected to reach 7.87 USD Billion in 2024, the demand for efficient battery management solutions is paramount. Battery monitoring systems play a vital role in enhancing the safety, efficiency, and lifespan of EV batteries. As governments worldwide implement stricter emissions regulations, the shift towards electric mobility is likely to accelerate, further propelling the need for advanced battery monitoring technologies.

Regulatory support and incentives play a crucial role in shaping the Global Battery Monitoring System Market Industry. Governments worldwide are implementing policies to promote the adoption of battery monitoring technologies, particularly in the renewable energy and electric vehicle sectors. For example, various countries offer tax credits and subsidies for energy storage systems, which encourages investment in battery monitoring solutions. This supportive regulatory environment is likely to foster innovation and growth within the market, aligning with the projected CAGR of 18.1% for 2025-2035.

The Global Battery Monitoring System Market Industry is experiencing a surge in demand due to the increasing adoption of renewable energy sources. As countries strive to meet sustainability goals, the integration of battery storage systems becomes crucial for managing energy supply and demand. For instance, the International Renewable Energy Agency indicates that the global renewable energy capacity is expected to reach 4,000 GW by 2024. This transition necessitates advanced battery monitoring systems to ensure optimal performance and longevity of energy storage solutions, thereby driving market growth.

The Global Battery Monitoring System Market Industry is benefiting from the increasing focus on energy storage solutions across various sectors. As industries and utilities seek to enhance grid stability and reliability, the demand for battery storage systems is on the rise. According to the U.S. Department of Energy, energy storage capacity is expected to grow significantly in the coming years. This growth necessitates the implementation of advanced battery monitoring systems to optimize performance and ensure safety, thereby driving market expansion.

Technological advancements in battery technologies are a key driver of the Global Battery Monitoring System Market Industry. Innovations such as solid-state batteries and lithium-sulfur batteries promise higher energy densities and improved safety. These advancements necessitate sophisticated monitoring systems to manage battery health and performance effectively. As manufacturers invest in research and development, the market is expected to witness a shift towards more efficient and reliable battery monitoring solutions, which could lead to a projected market value of 49.0 USD Billion by 2035.

Based on Region, the Battery Monitoring System Market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. This region has seen healthy growth in the demand for EVs during the past few years. In North America, the sale of electric cars has doubled since 2018, which implies that the demand for electric cars has been rising at a rapid pace. This demand is expected to increase the need for BMS to control and manage the batteries in the EVs across the US, Canada, and Mexico.

The demand for BMS is also coming from the data center. Several new data center projects have been initiated in the region, including Google’s recent plan to invest billions in its US offices and data centers. 

The global battery monitoring system (BMS) market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players constantly competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the key factors that could restrain market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for vendors to provide cost-effective and efficient products to survive and succeed in a competitive market environment.

The growth of market vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Cell watch (NSDL), Power shield, Texas Instrument, Sockmen, and Eagle eye power solutions, LLC are some of the major players in the market. These companies compete in terms of availability, quality, price, and technology. They are primarily focused on product development as their key strategy in the global battery monitoring system (BMS) market.

Although international players are dominating the market, regional players with small shares also have a significant presence in the market. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.

Cell watch (NSDL) is one of the prominent players in the market. The company offers a comprehensive range of battery monitoring systems across various industries vertically. Additionally, the company’s product is complied with all the essential regulatory frameworks, thereby making the product one of the popular choices among enterprises operating in industry vertically.

Vertiv Holdings Co (Vertiv): Vertiv Holdings Co (Vertiv), formerly known as GS Acquisition Holdings Corp, was initially incorporated in Delaware (US) on April 25, 2016. The company designs, manufactures, and offers services of critical digital infrastructure. Vertiv provides solutions to data centers, communication networks, and commercial & industrial application areas. The company sells its solutions in more than 45 countries across the Americas, Asia Pacific, and Europe, the Middle East and Africa (EMEA).

Vertiv provides a broad range of offerings, which include power monitoring products, thermal monitoring products, integrated rack systems, modular solutions, and monitoring systems for monitoring and controlling digital infrastructure. The company’s key customers are concentrated in three main end markets, including the data center (hyperscale/cloud, colocation, enterprise, and edge), communication networks, and commercial and industrial environments. In 2019, Vertiv spent USD 198.3 million on research and development (R&D).

Cellwatch: Cellwatch is the provider of a battery monitoring solution for critical battery protection applications. The company is part of NDSL Group LTD. Cellwatch has been uniquely designed to monitor batteries every day, delivering unmatched monitoring technology to protect customers from downtime. Cellwatch was the first modular battery monitoring system on the market. Some of the key customers with which the company has worked closely include Green Mountain (for its Data Centre to prevent downtime and achieves greater sustainability), Sentinel (for its data center), Columbus regional airport authority, and regions bank.